On Sun, 21 Feb 1999, Henry C.K. Liu wrote: > Hyperinflation will not help Japan. Krugman is wrong. Because both the > debtors and creditors in Japan are Japanese and they both use yens. The secret of Keynesianism is that you don't just print money, you use it to *buy stuff*. That means changing the relations of production, which of course scares hell out of our elites, which is why they hate Keynesianism, even though they benefit from the thing (ah, the contradictions of Capital). What Japan needs is a nice dose of inflation, plus inflationary bailouts of its banking system and of its Southeast Asian semi-peripheries -- economics-talk for soaking the Asian rich and giving all those Malaysian electronics workers and Japanese retail clerks a raise. Soak Mitsubishi, spend on the Mitsubishi-ariat! -- Dennis
